Mixed-Use Building with
For Sale
$2,950,000
3729 103rd Street Corona, Ny, NY 11368
Two-level income property combining an established restaurant with residential apartments near public transportation and neighborhood retail.
Property Size5,700 SF
Price / SF$517.54
Days on Market82
Property Features for 3729 103rd Street Corona
General Information
Standard status
Active
Size
5,700 SF
Zoning
R6B
Net Operating Income
$200,000
Financials
Cap Rate
6.7%
Gross Income
$240,000
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,566
Amenities
Finished,Full
Yes
Finished, Full
Other
No
5700
Building Details
Building Size
5,700 SF
Year Built
2007
Buildings
1
Listing Agency:
RE/MAX Town & Country
(845) 765-6128
Listed By:
Howard Payson · License #NY10491208345
(845) 765-6128
Source:
Town-and-country-fishkill-ny.remax
Added: Jun 12
Changed: Aug 31
Last Checked: Aug 31 at 12:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Town & Country
Investment Insights
Based on property information with market context.
This 5,700-square-foot mixed-use building, completed in 2007, combines a commercial restaurant space at street level with residential apartments on the floors above. The property includes an established restaurant tenant and one vacant apartment, creating a combination of commercial and residential occupancy within the same building.
Located at 3729 103rd Street in Corona, the property is positioned near public transportation, the LIRR, shopping, dining, and major roadways. Access to Manhattan is also noted, along with consistent pedestrian activity and street presence. The upper residential component includes two-bedroom and three-bedroom apartments, although the reported unit totals are inconsistent.
Located at 3729 103rd Street in Corona, the property is positioned near public transportation, the LIRR, shopping, dining, and major roadways. Access to Manhattan is also noted, along with consistent pedestrian activity and street presence. The upper residential component includes two-bedroom and three-bedroom apartments, although the reported unit totals are inconsistent.
Key Highlights
- 5,700 SF mixed‑use building completed in 2007
- 3729 103rd Street, Corona, NY 11368
- Street‑level commercial space occupied by an established restaurant tenant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$181,688
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,633,760
$3.6M
Cap Rate 7%
$2,595,543
$2.6M
Cap Rate 9%
$2,018,756
$2.0M
Market Conditions
NOI Build-Up for 5,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$342.0K $60.00/SF
− Vacancy
−$51.3K −$9.00/SF
EGI
$290.7K $51.00/SF
− OpEx
−$109.0K −$19.13/SF
NOI
$181.7K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,633,760
Cap Rate 7%
$2,595,543
Cap Rate 9%
$2,018,756
Alternative Uses
Best Use
Specialty Retail
$14.19M
$12.41M – $16.55M
NOI $993,168 @ 7.0% cap · market cap 33.67%
Second Best
Mixed Use
$2.60M
$2.27M – $3.03M
NOI $181,688 @ 7.0% cap · market cap 6.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level income property combining an established restaurant with residential apartments near public transportation and neighborhood retail.
Where is this mixed-use property located?
The property is located at 3729 103rd Street Corona Ny, NY.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 5,700 SF mixed‑use building completed in 2007; 3729 103rd Street, Corona, NY 11368; Street‑level commercial space occupied by an established restaurant tenant
